Institutional interest in Bitcoin has been growing exponentially recently. While many companies are purchasing BTC, the latest move came from Cantor Fitzgerald, the company run by US Commerce Secretary Howard Lutnick. According to the Financial Times, Howard Lutnick's company Cantor Fitzgerald is in talks with Adam Back and his company Blockstream to purchase approximately $4 billion worth of Bitcoin (BTC). This move is seen as another bold move by Brandon Lutnick, who replaced the company's CEO Howard Lutnick after he was confirmed as the 41st US Secretary of Commerce. Lutnick had previously signed a $3.6 billion Bitcoin deal with SoftBank and Tether in April. According to the FT, citing two unnamed sources, Cantor Fitzgerald-backed Cantor Equity Partners is in final-stage talks with Back to purchase $3 billion to $4 billion worth of BTC. Under the agreement, Cantor will receive Bitcoin from Adam Back. In exchange for Back's Bitcoin contribution, Back and Blockstream will each receive a stake in the SPAC. Cantor Equity Partners is a special purpose acquisition company (SPAC) that raised $200 million in its initial public offering in January. Although the deal has reportedly not been finalized yet, it could be finalized this week. *This is not investment advice. Continue Reading: US Commerce Secretary's Company Cantor Fitzgerald Prepares for Historic $4 Billion Bitcoin Move!
